$9.154 Billion: Disclosing all payments over $600 to anybody

What Is The Tax: By re-establishing reporting rules of deals over $600 between individuals or businesses, compliance in terms of paying proper taxes on such deals would increase making for fewer losses in the tax system.

$14.413 Billion: Close tax loopholes for insurance companies and their products

What Is The Tax: The reforms in the insurance code are broad, but include specific provisions meant to target the sale of life insurance contracts onto third parties who do not pay the full taxable amount even though they receive the payout.

$18.925 Billion: Reinstate superfund taxes

What Is The Tax: Certain taxes on the production and use of dangerous chemicals were eliminated after 1996. They were previously held in a fund for the purpose of paying for the damage from any dangerous chemical leak or spill. Now that fund is to be renewed, for the same purpose.

$23.977 Billion: Carried profits taxed as ordinary income

What Is The Tax: This is an issue primarily to do with private equity, hedge funds, and other investment funds which charge individual profits as business profits, thus reducing the tax rates on many employees' carried interest. This is to be changed, so these carried interest profits are considered individual, rather than business profits.

$23.987 Billion: Modify the cellulosic biofuel producer credit

What Is The Tax: Changing the rules of a current tax incentive for bio-fuel production to exclude products made for other purposes, such as paper industry byproducts, etc. This would allow the discount to go directly to the biofuel producers, rather than products with tenuous links to that industry.

$38.819 Billion: Eliminate fossil fuel tax preferences

What Is The Tax: The repeals include a wide range of initiatives from tax credits for coal production to tax exemptions on drilling. The changes are made to meet the G-20 agreement that all subsidies on fossil fuels should be eliminated.

$59.085 Billion: Repeal LIFO accounting method for inventories

What Is The Tax: LIFO is a form of accounting to do with inventory allowing firms to to take a tax discount advantage over more internationally accepted rules such as FIFO, or first in first out. Changing this would result in simplification of IRS rules and SEC compliance with international norms.

$90 Billion: Impose the Financial Crisis Responsibility Fee

What Is The Tax: Imposed on government selected banks with more than $50 Billion in assets, the Financial Crisis Responsibility fee is being levied as a result of bank's involvement in the TARP program. It is to help refund the government of its outlays to backstop the financial system during the crisis.

$122.189 Billion: Reform of offshore tax schemes

What Is The Tax: The amount of off shore tax loopholes is numerous, and the incentives for corporations to offshore divisions have been well discussed elsewhere, but the President's fight back agenda is comprised of an impressive eleven line orders. It not only moves against companies, but individuals who avoid U.S. taxes on offshore bank accounts which they keep hidden from the IRS.

$155.322 Billion: Reinstate limitations on itemized deductions

What Is The Tax: Allowing more of the provisions in the Bush tax cuts to sunset, this reinstatement allows for a reduction in the amount of itemized deductions individuals making more than $200,000 and families making more than $250,000 can take.

$291.175 Billion: Reduce value of itemized reductions to 28% of taxes

$327.368 Billion: Reinstate the 39.6% highest tax rate

What Is The Tax: This is the elimination of the so-called "Bush tax cuts for the richest Americans" that were included in the Economic Growth Tax Relief Reconciliation Act of 2001 made to stimulate the economy after September 11, 2001. Those cuts created a 35% tax range for individuals making over $373,650, which, if this proposal goes through, will return to 39.6%.